The purpose of this study was to investigate whether there are any significant abnormal returns around the public announcement of earnings and to establish whether the efficient capital market hypothesis applies to the small ALT-X market. The population of interest was all the companies that...

Management has a duty to inform both shareholders and investors about the state of health of a firm. Earnings announcements provide a yardstick that can be utilised by the market to assess the wealth and profitability of a firm. The purpose of the study was to investigate whether there are any...